In 2015, the New York Times had a forum on the obligations of corporations. One commentator was clear. His was the conventional opinion. Stephen Bainbridge said: “…the law requires corporate directors and managers to pursue long-term, sustainable shareholder wealth maximization in preference to the interests of other stakeholders or society at large, … managers who are responsible for everyone are responsible to no one.”

Bainbridge continued: “If directors were allowed to deviate from shareholder wealth maximization, they would inevitably turn to indeterminate balancing standards, which provide no accountability. As a result, directors could be tempted to pursue their own self-interest.”

In a boxing match metaphor, that last sentence would be Bainbridge dropping his guard. Corporate directors and executives give every indication of pursuing their own self-interest now. At the expense of customers. At the expense of employees. At the expense of the communities in which they are located. Even at the expense of shareholders.

Look elsewhere for better advice.